IBM has been working with the Kenya-based food logistics startup Twiga Foods to facilitate micro-lending options for food vendors and small farmers, who struggle to secure loans and develop a credit history. Unlike commercial banks, these mobile-first finance startups don’t require credit scores, bank statements, lending history, and collateral, in order to provide affordable credit to customers in Kenya, Tanzania, and beyond.

Blockchain technology could be used to help lower the barrier to entry for financial systems establishing new markets and products. Its decentralized ledger is could allow users to keep track of transactions and forestall malpractice. Kenya also hopes to use the blockchain system to tackle land registration and corruption.